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IICF Awards $50K Grant to California Fire Foundation for Victims
The Insurance Industry Charitable Foundation’s Western Division presented a $50,000 grant to the California Fire Foundation’s Supplying Aid to Victims of Emergency program on Aug. 16. The grant is to support Californians in need in the immediate aftermath of natural …

POSTED AUGUST 19, 2019 8:45 PM
Abry Partners Agrees to Acquire Portfolio in California from Capital Z
Abry Partners has agreed to acquire Lake Forest, Calif.-based Portfolio Holding Inc. from Capital Z Partners LP. The deal is subject to normal and customary closing conditions. Terms were not disclosed. All of Portfolio’s current management team will remain in …

POSTED AUGUST 19, 2019 5:13 PM
Best Agencies to Work For Award Nominations Open. Submit Today!
Do you love your agency? Is your agency a Best Place to Work? Then don’t wait – nominate your agency today as a “Best Agency to Work For” in 2019. You must be a current employee of the agency you …

POSTED AUGUST 19, 2019 4:22 PM
PG&E Shares Dive on Risk of up to $18B in Wildfire Lawsuit Costs
PG&E Corp. shares plunged Monday after a judge ruled that a jury can determine whether it should pay as much as $18 billion in damages to wildfire victims. The California utility giant fell as much 28%, to $10.22, at 9:35 …

POSTED AUGUST 19, 2019 4:12 PM
Underwriters Get Picky and Other Trends in Construction Insurance
Construction insurance specialists say their insurance market is strong with plenty of capacity and underwriters competing for the best accounts. According to specialists interviewed by Insurance Journal for their assessment of the market, the boom in the construction business has …

POSTED AUGUST 19, 2019 3:50 PM
AI-Underwritten Insurance Premiums to Go From $1.3B to $20B Globally by 2024: Juniper
The value of global insurance premiums underwritten by artificial intelligence will exceed $20 billion by 2024, up from an estimated $1.3 billion in 2019, according to new data from Juniper Research. This growth will be driven by streamlined underwriting processes, …

POSTED AUGUST 19, 2019 2:53 PM
Arch Insurance to Buy Coastal Commercial Property MGU Ventus Risk Management
Arch Insurance North America has agreed to acquire Ventus Risk Management, a technology and analytics-driven managing general underwriter that specializes in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Ventis, founded in 2016, has 30 employees and …

POSTED AUGUST 19, 2019 2:28 PM
Court Says PG&E Has Sole Right to Submit Bankruptcy Plan
A federal judge has allowed PG&E Corp. to retain the sole rights to propose a plan to exit bankruptcy, as he rejected efforts by investors to put forward competing plans, according to court documents. Judge Dennis Montali of the U.S. …

POSTED AUGUST 19, 2019 2:24 PM
Vaping Firms Sue Seeking to Further Delay FDA Review of e-Cigarettes
A vaping industry group sued the U.S. government last week to delay an upcoming review of thousands of e-cigarettes on the market. The legal challenge by the Vapor Technology Association is the latest hurdle in the Food and Drug Administration’s …

POSTED AUGUST 19, 2019 1:42 PM
Alabama High School Closed After Students Sickened
Eight students from a south Alabama high school are suffering elevated levels of carbon monoxide, and officials are trying to determine why. News outlets report that New Brockton High School canceled classes Friday after the students became ill on Thursday. …

POSTED AUGUST 19, 2019 1:28 PM

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